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In the current economic climate, it would certainly be an advantage for advisors to have a crystal ball allowing them to know what's to come in future months or, at the very least, when the market's roller coaster will begin to wind down. But foretelling the future has never been the role of the financial planner. And while no one can predict when the market will return to bull territory, there are some things planners do know and must prepare for.
The planning industry is getting older, along with the rest of us. And just as advisors work to assure that their clients retire comfortably and happily, many must do the same for themselves. First-generation planners are concerned about giving up control of the firms and client relationships they have worked so hard to build, and they are looking to the new generation to furnish the perfect set of hands to place their beloved companies in.
This summer, more than 120 planners, ranging in age from 23 to 35, gathered in St. Cloud, Minn., for the third annual NexGen Conference. For three days, the group discussed everything from breaking into the business and choosing a firm model to creating career paths for themselves and, yes, taking over the industry from their well-respected elders.
Now you can go to www.financial-planning.com and click on "Notes From NexGen" under Features to check out exactly what these energetic young people had on their agenda, not to mention what they had to say between sessions. From what Mark Tibergien identified as "The Top 10 Things for Advisors to Think About," to Tim Maurer's riveting advice on "Going Independent," we have everything you need to see into the future of this industry—and into the minds of those who will lead it one day.
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